It sounds like somehow the clip database file in CHS got corrupted.
I thought i included a clipboard database repair function but i can't see it in the options.
Assuming you can start up CHS, run it, backup your clip database from the options, and then try restoring an older backup of clips through the options.
If you can't start up CHS, then go to the CHS program files directory (C:\program fiels\Clipboard Help+Spell) and delete the files in the Database\ subdirectory (actually do yourself a favor and just MOVE them dont delete yet). then restart CHS and it will have a blank clip database. Then you can restore one of the older clip backups from the options dialog.
Meanwhile i will put high on my todo list to add the database repair option.